Mississippi Insurance Department issues Cease and Desist order

MISSISSIPPI (WCBI) – The Mississippi Insurance Department is cracking down on a company because of its business practices.

The department has issued a Cease and Desist order to Salvasen Holdings and its parent company Triada Assurance Holdings LLC.

The company is accused of marketing and selling Health Insurance without an insurance license and falsely marketing limited plans as major medical policies.

Insurance Commissioner Mike Chaney said his office has had at least one complaint of Salvasen failing to pay claims under a policy.

Other states, including Texas and Michigan, have also sanctioned Salvasen.

The company is still under investigation by the Department. Until those findings are complete, Salvasen can not collect or receive premiums or conduct any new or existing business in Mississippi.

If you have questions about this case, call the Investigations Division of the Mississippi Insurance Department.

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